Loan Comparison: 2.84% vs 6.5%
12645 Pacific, Aurora, CO 80014 · 1bd/1ba · $279,000
List Price
$279,000
Assumable Rate
2.84%
Remaining Balance
$232,722
Equity Gap
$46,278
Loan Type
VAAdjust Your Scenario
$13,950
$13,950$46,278
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.84% (VA)
Blended Rate: 3.53%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,675/moAssumable @ 2.84% + gap loan
$1,210/moAssumed loan: $961/mo
Gap financing: $249/mo
$466less per month with the assumable
Your Savings on This Property
12645 Pacific, Aurora · 2.84% VA vs 6.5% conventional
$466
per month
$5,586
per year
$167,589
over 30 years
$167,589
interest saved
How gap financing works: The equity gap ($46,278) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($13,950, 5% of purchase price) and a second mortgage for the rest ($32,328 at 8.5%). Even with two payments, the blended cost is typically much lower than a new conventional loan. We work with lenders who specialize in assumption gap financing.
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